The residential sector looks forward to further support beyond the mainstay demands of industry status, easy availability of finance, and GST rates reduction. In the upcoming Union Budget 2022-23, some significant moves would help spur up residential demand include:
In the upcoming Union Budget 2022-23, some significant moves could help spur up residential demand
Latest ANAROCK data reveals that the price gap between ready-to-move-in (RTM) and under-construction (UC) homes reduced to a mere 3-5% by Q1 2021. In 2017, the difference between the two categories was anywhere between 9% to 12% across cities, while in 2018 it was 5-8%.
The housing industry needs focused measures to further bolster demand in 2021. This year, the demands go beyond the usual suspects of single-window clearance and industry status.
ANAROCK’s year-end data indicates that the top 7 cities saw total home sales of over 1.38 lakh units in 2020 against approx. 2.61 lakh units in 2019 – a decline of 47%.
- Firm sold 1,016 homes in the corresponding period in 2019 across top 9 cities in India & Dubai
- Despite COVID-19, organic buyer demand boosting sales amidst ongoing festive offers & discounts, govt. incentives (particularly stamp duty cut in Maharashtra) & prevailing low home loan rates
- MMR tops list – ANAROCK sold 573 units in September & October 2020 against 265 units last year (approx. 116% yearly rise), followed by NCR with 333 units sold in these two months against 260 units last year
- In Bengaluru, Firm sold 257 units in this period (76% y-o-y jump); 223 units sold in Chennai – a nearly five-fold yearly jump in Sept.-Oct. months this year
- NRIs capitalize on prevailing low prices in Dubai – ANAROCK sold 17 units in these two months against 3 units in this period last year
Mumbai, 1 December 2020: Despite unusual pressures on the housing market, residential real estate is on a high this festive season. ANAROCK Property Consultants sold 1,805 homes across top 9 Indian cities (NCR, MMR, Chennai,